The Mortgage Bankers Association, in a letter Sunday to the Securities and Exchange Commission and the Financial Industry Regulatory Authority, raised “urgent concern” about dramatic price volatility in the market for agency mortgage-backed securities over the past week that leading to broker-dealer margin calls on mortgage lenders’ hedge positions that are unsustainable for many such lenders.
Tag: Coronavirus
Ginnie Mae, FHA Update Servicer Policies in Coronavirus Wake
Ginnie Mae and FHA on Friday issued updates addressing mortgage servicer liquidity issues that could result from the coronavirus pandemic.
MBA Advocacy Update
MBA remains active on efforts regarding the coronavirus (COVID-19) pandemic. In this week’s communication, you will find several updates pertaining to industry efforts to provide relief to both our members and their customers.
House Approves $2 Trillion Stimulus Bill; Trump Signs into Law
The House on Friday approved a massive $2 trillion stimulus bill aimed at injecting a much-needed boost to a U.S. economy that has been staggered by the coronavirus pandemic.
MBA Chart of the Week: Unemployment Insurance–Initial Claims
Last week provided our first indication of just how severe the shutdown of the U.S. economy could be, as Americans combat the ongoing spread of the coronavirus.
MBA, Trade Groups Ask States to Support Financial Services, Real Estate, Housing Industries in COVID-19 Response
The Mortgage Bankers Association and other industry groups sent a letter last week to state and municipal government associations, asking for support of the financial services, real estate and housing industries as they navigate solutions to the coronavirus pandemic.
CFPB Relaxes Information Collection, Reporting During Pandemic
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
House Vote Scheduled Today on $2 Trillion Stimulus Bill; What it Means for MBA Members
The House is expected to vote today on a massive $2 trillion stimulus bill aimed at injecting a much-needed boost to a U.S. economy that has been staggered by the coronavirus pandemic.
CFPB Relaxes Information Collection, Reporting During Pandemic
The Consumer Financial Protection Bureau said it is postponing some data collections from industry on Bureau-related rules to allow financial companies to work with customers in responding to the coronavirus pandemic.
MBA, Trade Groups Ask DHS to Declare Housing ‘Essential Infrastructure Business’
The Mortgage Bankers Association joined more than 90 industry trade groups in a letter to the Department of Homeland Security, urging DHS to designate construction of single-family and multifamily housing as an “Essential Infrastructure Business.”